In this adjustment period, the authorities continued to neither allocate nor utilize the Petroleum Price Stabilization Fund for all fuel products. According to the Ministry of Industry and Trade, the latest price adjustment was carried out based on developments in the global petroleum market and fluctuations in the VND/USD exchange rate, as well as current regulations on taxes, fees, and petroleum trading.
In line with fuel price management regulations, from 3 p.m. on the same day, Vietnam National Petroleum Group (Petrolimex) and major petroleum distributors announced new retail prices for several biofuel gasoline products across their distribution systems.
According to Petrolimex’s announcement, the maximum retail price of E5 RON92 gasoline in this pricing period was set at VND24,340 (US$0.92) per liter, while E10 RON95-III was listed at VND25,050 per liter and E10 RON95-V at VND25,950 per liter.
Under the price list released by Petrolimex on May 21, E10 biofuel gasoline products are currently priced around VND490 per liter lower than mineral gasoline products of the same octane grade. Specifically, E10 RON95-V is approximately VND490 per liter cheaper than RON95-V, while E10 RON95-III is around VND490 per liter lower than RON95-III.
According to the Ministry of Industry and Trade and the Ministry of Finance, Vietnam’s fuel prices currently remain significantly lower than those in many countries sharing borders with Vietnam. The two ministries stated that they will continue to closely monitor developments in the global market to ensure appropriate price management while coordinating efforts to inspect fuel supply and supervise petroleum trading activities nationwide.
